British politicians call for competition review of Netflix bid for Warner Bros, FT reports

LONDON – More than a dozen British politicians and former policymakers have called on the country’s competition watchdog to launch a full review of Netflix’s US$83 billion (S$105 billion)

bid for Warner Bros Discovery

, the Financial Times reported on Jan 27.

The group of politicians, in a letter to chief executive of the British Competition and Markets Authority (CMA) Sarah Cardell, raised concerns that the deal “will cement an already dominant player” in the TV streaming market, according to the report.

The politicians said that the deal could lead “to a substantial lessening of competition with damaging consequences for consumers”, the FT report said, citing the letter.

Reuters could not immediately confirm the report.

The CMA said it cannot speculate on cases it will or will not look into outside of a formal investigation. Warner Bros and Netflix did not immediately respond to Reuters’ requests for comment.

Netflix’s proposed deal for Warner Bros Discovery has been facing political pushback and regulatory scrutiny, with some members of the US Congress deeming the acquisition as an antitrust “nightmare” for consumers and creatives.

Bloomberg reported last week that the European Union’s antitrust regulators are expected to scrutinise rival bids by Netflix and

Paramount Skydance for Warner Bros

at the same time, setting up an unusual head-to-head competition review.

According to the FT report, the letter to the CMA was signed by Mr Chris Smith, Mr Oliver Dowden and Ms Karen Bradley, who have all acted as the British secretary of state for culture, media and sport, as well as Mr Tony Hall, a former director-general of the BBC.

Other signatories include Mr Guy Black, chairman of the News Media Association and deputy chairman of Telegraph Media Group, and Ms Tina Stowell, former leader of the House of Lords, FT reported. REUTERS